Alpha Omega Wealth Management LLC Lowers Stake in Amgen Inc. (NASDAQ:AMGN)

Alpha Omega Wealth Management LLC lessened its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,850 shares of the medical research company’s stock after selling 38 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Amgen were worth $596,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hershey Financial Advisers LLC acquired a new position in shares of Amgen during the second quarter worth about $30,000. Horizon Financial Services LLC acquired a new position in shares of Amgen in the first quarter worth about $28,000. nVerses Capital LLC acquired a new position in shares of Amgen in the second quarter worth about $31,000. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the second quarter worth about $33,000. Finally, FSA Wealth Management LLC lifted its stake in shares of Amgen by 182.0% in the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

AMGN stock traded up $2.18 on Friday, reaching $319.66. The company’s stock had a trading volume of 1,467,846 shares, compared to its average volume of 2,495,004. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The company has a market capitalization of $171.48 billion, a P/E ratio of 45.67, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. The firm has a fifty day moving average of $327.28 and a two-hundred day moving average of $308.96. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the company earned $5.00 earnings per share. As a group, analysts predict that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is currently 128.57%.

Analysts Set New Price Targets

AMGN has been the topic of several recent analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price target (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Cantor Fitzgerald assumed coverage on Amgen in a research note on Friday, September 27th. They issued an “overweight” rating and a $405.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a research note on Thursday, September 26th. Finally, TD Cowen upped their price objective on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $325.55.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.